Takeover Offer by 360 Capital Group

On 13 September, 360 Capital Group (ASX: TGP) announced an unconditional, all-cash, off-market takeover offer to acquire all the securities of APDC for consideration of $1.95 per APDC security (360 Capital Offer).

The Board had previously recommended on 25 August that APDC securityholders accept the NEXTDC Limited offer of $1.87 cash per APDC security (NEXTDC Offer), in the absence of a superior proposal.

The Board has determined that the 360 Capital Offer constitutes a superior proposal, for reasons including:

it will provide APDC securityholders with improved cash consideration of $1.95 per APDC security; and